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SDSYA on OTC

SOUTH DAKOTA SOYBEAN PROCESSORS LLC

Fats and oils company, listed on OTC (SDSYA)1

In its 2026 annual report the company says: “We also own and operate a small oilseed processing plant near Miller, South Dakota. In addition, we own a controlling interest in and manage High Plains Processing, LLC, a large oilseed processing plant and refinery located two miles south of Mitchell, South Dakota. We are owned by approximately 2,240 members, many of whom are agricultural producers residing in South Dakota and neighboring states.”4 It is headquartered in Volga, South Dakota.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSDSYA on OTC1
  • IndustryFats & Oils1
  • HeadquartersVolga, South Dakota1
  • Business address100 Caspian Ave., P.O. Box 500, Volga, Sd 570712
  • Filer categoryNon-accelerated filer2

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South Dakota Soybean Processors, LLC (“we,” “us,” “our” or the “Company”) is the owner and operator of three processing facilities and two oil refineries in the state of South Dakota. Our principal place of business is in Volga, South Dakota, where we operate a soybean processing plant and refinery and maintain administrative offices. We also own and operate a small oilseed processing plant near Miller, South Dakota. In addition, we own a controlling interest in and manage High Plains Processing, LLC, a large oilseed processing plant and refinery located two miles south of Mitchell, South Dakota. Construction of the Mitchell facility was completed and start-up operations commenced in October 2025, the addition of which will nearly double our total production capacity.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

4.9%Gross margin5
3.5%Operating margin5
3.5%Net margin5
-9.1%Revenue growth, 20255
5.2%Return on equity5
0.74×Debt to equity5
-$241.1MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Soybean Meal And Hulls brought in 59% of the revenue SOUTH DAKOTA SOYBEAN PROCESSORS LLC broke down this way in fiscal 2025.

  1. Soybean Meal And Hulls$295.8M559%down 5% from 2024
  2. Soybean Oil and Oil Byproducts$208.1M541%down 14% from 2024
Products and services by year
Products and services202320242025
Soybean Meal And Hulls$374.0M$311.7M$295.8M
Soybean Oil and Oil Byproducts$329.1M$242.7M$208.1M

Regions

United States brought in 87% of the revenue SOUTH DAKOTA SOYBEAN PROCESSORS LLC broke down this way in fiscal 2025.

  1. United States$439.6M587%down 3% from 2024
  2. CA [member]$64.3M513%down 37% from 2024
Regions by year
Regions202320242025
United States$564.6M$451.7M$439.6M
CA [member]$138.6M$102.7M$64.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue95¢$479.1M
  • Other costs1¢$7.0M
  • Profit4¢$17.7M

Out of $503.8M in revenue.5

Financial statements

Revenue67895$503.8M in 2025+36% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $371.3M$371.3M20192020: $415.0M$415.0M2020+12%2021: $590.2M$590.2M2021+42%2022: $721.5M$721.5M2022+22%2023: $703.1M$703.1M2023−3%2024: $554.4M$554.4M2024−21%2025: $503.8M$503.8M2025−9%
Gross profit67895$24.7M in 2025+67% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $14.8M$14.8M20192020: $19.3M$19.3M2020+30%2021: $33.5M$33.5M2021+74%2022: $73.4M$73.4M2022+119%2023: $78.4M$78.4M2023+7%2024: $29.4M$29.4M2024−63%2025: $24.7M$24.7M2025−16%
Operating income67895$17.5M in 2025+56% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $11.2M$11.2M20192020: $15.4M$15.4M2020+38%2021: $28.9M$28.9M2021+87%2022: $67.7M$67.7M2022+135%2023: $71.9M$71.9M2023+6%2024: $23.3M$23.3M2024−68%2025: $17.5M$17.5M2025−25%
Net income67895$17.7M in 2025+62% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $11.0M$11.0M20192020: $15.6M$15.6M2020+42%2021: $28.0M$28.0M2021+80%2022: $67.5M$67.5M2022+141%2023: $70.4M$70.4M2023+4%2024: $20.3M$20.3M2024−71%2025: $17.7M$17.7M2025−13%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenues$503.8M$554.4M$703.1M
Total cost of revenues$479.1M$525.0M$624.7M
Gross profit$24.7M$29.4M$78.4M
Administration$7.2M$6.1M$6.5M
Operating income$17.5M$23.3M$71.9M
Interest expense-$6.1M-$6.4M-$2.8M
Other non-operating income (expense)$733.8K$4.4M$1.3M
Patronage dividend income$849.0K$429.9K$693.0K
Total other income (expense)-$4.5M-$1.6M-$819.3K
Net income$12.9M$21.8M$71.1M
Net income (loss) attributable to non-controlling interests in consolidating entities-$4.8M$1.4M$659.6K
Net income attributable to Company$17.7M$20.3M$70.4M
Basic earnings (loss) per capital unit (in dollars per share)$0.58$0.67$2.32
Diluted earnings (loss) per capital unit (in dollars per share)$0.58$0.67$2.32
Weighted average number of capital units outstanding for calculation of basic earnings per capital unit (in shares)30.4M shares30.4M shares30.4M shares
Weighted average number of capital units outstanding for calculation of diluted earnings per capital unit (in shares)30.4M shares30.4M shares30.4M shares

Compare SOUTH DAKOTA SOYBEAN PROCESSORS LLC with another company

Corporate structure

SOUTH DAKOTA SOYBEAN PROCESSORS LLC sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • SOUTH DAKOTA SOYBEAN PROCESSORS LLC Volga, South Dakota
    • High Plains Processing, LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SOUTH DAKOTA SOYBEAN PROCESSORS LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$638.1M5 Dec 31, 2025$435.3M5 Dec 31, 2024+46.6%
Accumulated depreciation$84.7M5 Dec 31, 2025$75.6M5 Dec 31, 2024+12.1%
Property and equipment, net$553.4M5 Dec 31, 2025$359.8M5 Dec 31, 2024+53.8%
Operating-lease assets (leased space)$85.5M5 Dec 31, 2025$35.8M5 Dec 31, 2024+138.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$8.4M5 Dec 31, 2025$39.6M5 Dec 31, 2024−78.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$132.8M5 Dec 31, 2025$45.1M5 Dec 31, 2024+194.7%
Raw materials$42.3M5 Dec 31, 2025$17.1M5 Dec 31, 2024+147.8%
Finished goods$89.4M5 Dec 31, 2025$27.5M5 Dec 31, 2024+225.4%

Properties, in its own words

We conduct our operations principally at three facilities located in South Dakota, including Volga, Miller, and Mitchell.

At our Volga facility, we own the land, consisting of 98 acres on which most of our infrastructure and physical properties rest. Our facilities consist of a soybean processing plant, a soybean oil refinery and deodorizer, a quality control laboratory, and administrative and operations buildings.

The rest of Item 2

At our Miller facility, we own the land, consisting of approximately 24 acres, on which our soybean processing plant and operations building are situated.

At our Mitchell facility, we indirectly own approximately 296 acres of land through our subsidiaries. During the fourth quarter of 2025, the Company completed construction of the Mitchell facility and commenced operations. The site includes an oilseed processing plant, oil refinery and deodorizer, operations and administrative building, and rail loop tracks.

All of our tangible property, real and personal, serves as collateral for our debt instruments with our primary lender, CoBank, ACB, of Greenwood Village, Colorado, which is described below under “Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operation—Indebtedness.”

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

Who has led SOUTH DAKOTA SOYBEAN PROCESSORS LLC, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (32)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • High Plains Processing, LLC Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • SOYBEAN PROCESSORS LLCDec 21, 2001 to Jun 26, 20022

Timeline

  1. Jun 22, 20268-K Shareholder vote45
  2. Apr 13, 20268-K Entered a material agreement; New debt or obligation46
  3. Feb 25, 20268-K Results of operations47
  4. Feb 13, 20268-K Executive or director change48
  5. Feb 11, 20268-K Other events49
  6. Nov 25, 20258-K Entered a material agreement; New debt or obligation50
  7. Jun 20, 20258-K Shareholder vote51
  8. May 29, 20258-K Entered a material agreement; New debt or obligation52
  9. Mar 19, 20258-K Entered a material agreement; New debt or obligation53
  10. Mar 7, 20258-K Results of operations54
  11. Feb 7, 20258-K Other events55
  12. Jun 20, 20248-K Shareholder vote56

Calendar

When it reported results

  1. Feb 25, 2026Reported quarterly or annual results47
  2. Mar 7, 2025Reported quarterly or annual results54
  3. Mar 2, 2022Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

73 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 30 major events, 16 insider forms, 6 other. The latest 20:

  1. Aug 12, 202610-Q EDGAR
  2. Jun 22, 20268-K EDGAR
  3. May 14, 202610-Q EDGAR
  4. Apr 23, 2026DEF 14A EDGAR
  5. Apr 13, 20268-K EDGAR
  6. Mar 31, 202610-K EDGAR
  7. Feb 25, 20268-K EDGAR
  8. Feb 13, 20268-K EDGAR
  9. Feb 11, 20268-K EDGAR
  10. Nov 25, 20258-K EDGAR
  11. Nov 12, 202510-Q EDGAR
  12. Aug 8, 202510-Q EDGAR
  13. Jun 20, 20258-K EDGAR
  14. May 29, 20258-K EDGAR
  15. May 9, 202510-Q EDGAR
  16. Apr 29, 2025DEF 14A EDGAR
  17. Mar 28, 202510-K EDGAR
  18. Mar 19, 20258-K EDGAR
  19. Mar 7, 20258-K EDGAR
  20. Feb 7, 20258-K EDGAR

The 73 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 9 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 1, 2024Skinner NedDirectorSale37,500$9.26$347.3KForm 4
Apr 1, 2024Skinner NedDirectorSale20,000$9.19$183.7KForm 4
Apr 1, 2023Skinner NedDirectorBuy7,500$8.75$65.6KForm 4
Jan 1, 2023Reiner MichaelDirectorBuy2,000$7.75$15.5KForm 4
Jan 1, 2023Skinner NedDirectorBuy500$7.77$3.9KForm 4
Oct 1, 2022Skinner NedDirectorBuy3,750$6.65$24.9KForm 4
Jul 1, 2022Goplen GaryDirectorBuy5,000$6.39$31.9KForm 4
Jul 1, 2022Welter Ronald CDirectorBuy3,000$6.45$19.4KForm 4
Jul 1, 2022KLEINJAN JONATHANDirectorBuy5,000$6.56$32.8KForm 4
Jul 1, 2022Skinner NedDirectorBuy18,500$6.39$118.2KForm 4
Apr 1, 2022Skinner NedDirectorBuy23,000$5.95$136.9KForm 4

From Forms 4 filed with the SEC.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Tom Kersting63$400.0K$600.4K58
2025Carl Odde46$286.0K$424.7K58
2025Mark Hyde52$231.0K$334.0K58
2024Chief Executive Officer$400.0K$640.8K58
2024Chief Operating Officer$260.0K$371.0K58
2024Chief Financial Officer$208.3K$304.6K58
2023Chief Executive Officer$400.0K$1.1M58
2023Chief Operating Officer$216.2K$475.2K58
2023Chief Financial Officer$190.0K$400.9K58

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.2M 2020–2020
Money received by yearMoney received by year, 2020–2020: $1.2M in all. PPP loans $1.2M.$0$500K$1M$1.5M2020 · PPP loans: $1.2M2020
Figures by year
YearPPP loansTotal
2020$1.2M$1.2M

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA59. Matched to this company by name and state.

  1. Apr 13, 2020$1.2M PPP loan (first draw) from First Bank & Trust59To SOUTH DAKOTA SOYBEAN PROCESSORS, LLC, Volga SD; $1.2M forgiven Feb 12, 2021

SEC filer profile

How SOUTH DAKOTA SOYBEAN PROCESSORS LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSOUTH DAKOTA SOYBEAN PROCESSORS LLC1
  • CIK0001163609
  • Employer ID (EIN)46-04629684
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inSouth Dakota4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2070 Fats & Oils1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address100 Caspian Ave., P.O. Box 500, Volga, SD 570711
  • Phone60562792401
  • Shares outstanding30,411,500 as of Aug 12, 202611
  • Public float$205.5M as of Jun 30, 20254
  • AuditorEide Bailly LLP, Denver. Colorado PCAOB ID 2864
  • On EDGAR sinceDec 21, 20011
  • Filings439 in all: 8-K (123), 4 (94), 10-Q (74), 3 (36), 10-K (24), DEF 14A (17), 5 (8), 10-K/A (7)1
    All 28 form types

    DEF 14C (7), UPLOAD (7), 8-K/A (5), PRE 14A (5), CORRESP (4), S-1/A (4), PRE 14C (3), PRER14C (3), S-4/A (3), 424B3 (2), 425 (2), ARS (2), POS AM (2), 10-Q/A (1), 8-A12G (1), AW (1), NT 10-K (1), NT 10-Q (1), S-1 (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Apr 23, 2026
    Latest 8-K (8-K) Jun 22, 2026

Risk factors and legal proceedings

The risks SOUTH DAKOTA SOYBEAN PROCESSORS LLC names in Item 1A of its 10-K filed Mar 31, 2026: 23 risks under these headings, as written.4

  • We are affected by changes in commodity prices.
  • Our business operations and demand for our products are highly dependent on certain global and regional factors which are outside our control.
  • Current and future geopolitical events outside of our control could adversely impact our business.
  • We could be materially impacted in the future if a health epidemic, pandemic, or similar outbreak would arise in the future.
  • We could be affected by higher than anticipated operating costs, including but not limited to increased prices for soybeans.
  • It may become more difficult to sell our soybean oil for human consumption.
  • Hedging transactions involve risks that could harm our profitability.
  • Our business is not diversified.
  • We are dependent on our management and other key personnel, and the loss of their services may adversely affect our business.
  • We operate in an intensely competitive industry, and we may not be able to continue to compete effectively.
  • Our profitability is influenced by the protein and moisture content of soybeans in the local area.
  • Because soybean processing and refining is energy intensive, our business will be materially harmed if energy prices increase substantially.
The other 11 risks
  • Transportation costs are a factor in the price of soybean meal and oil, and increased transportation costs could adversely affect our profitability.
  • The rapid expansion of domestic soybean processing capacity may lead to an oversupply of soybean meal and oil, which could compress crush margins and adversely affect our profitability.
  • We are exposed to risk of nonperformance and nonpayment by counterparties.
  • Legislative, legal or regulatory developments could adversely affect our profitability.
  • We are subject to industry-specific risks that could adversely affect our operating results.
  • We could face increased operating costs if we are required to segregate genetically modified soybeans and the products generated from these soybeans.
  • There is no public market for our units.
  • There are significant restrictions on the transfer of our units.
  • Members may realize taxable income without cash distributions, and may have to use funds from other sources to fund tax liabilities.
  • We rely on information technology and any failure, inadequacy, interruption, or security lapse of that technology, including any cybersecurity incidents, could harm our ability to operate its business effectively.
  • We could be adversely affected by cyber-attacks, data security breaches and significant information technology systems interruptions.

Legal proceedings

From time to time in the ordinary course of our business, we may be named as a defendant in legal proceedings related to various issues, including without limitation, workers’ compensation claims, tort claims, or contractual disputes. We carry insurance that provides protection against general commercial liability claims, claims against our directors, officers and employees, business interruption, automobile liability, and workers’ compensation claims. We are not currently involved in any material legal proceedings and are not aware of any potential claim.

The opening of Item 3, Legal Proceedings.4

Sources

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